Republican elites and their billionaire donors are in a funk. They don’t know where to turn, who to support or what to do with their money. Fearing Trump and Carson, they crave an establishment candidate—though the ones available are flat tires. One complaint is that Trump and Carson lack the temperament and the experience to be president. This is an argument of weakness that belies elite befuddlement. The argument says nothing about policy—what elites want and why they don’t want what large numbers of Republicans want. Instead, they talk desperately about getting a candidate who might showcase a hefty resume...